CGS : Outlook for Feb 21st
February 20, 2011 Leave a comment
CGS has been a difficult trade for quite some time, but last week there were a few signs of some institutional buying, albeit not exactly of trend changing proportions.
The counter has key support 0.82 – last week’s low, which was last tested in August 2010. As long as it holds there will be some chance of a bounce to 0.87-0.88. If however 0.82 fails there is little to stem a fall until 0.78, with lower supports seen at 0.73-0.74
Consider a very speculative punt with limited exposure from 0.83, with a target at 0.87-0.88 and a tight stop at 0.81